In a bombshell disclosure, it has been reported that Israel’s intelligence agency, Mossad, carried out a covert mission—codenamed Operation Zeppelin—with the objective of protecting Indian business magnate Gautam Adani from what was perceived as an orchestrated defamation effort linked to the Hindenburg Research report. The revelation, based on a media report cited by IANS, suggests that the directive came straight from Israeli Prime Minister Benjamin Netanyahu himself.
The timing of the Hindenburg report was especially critical, emerging just days before Adani Ports was to complete a $1.2 billion acquisition of Israel’s Haifa Port—a strategically vital deal in which Netanyahu had taken personal interest. Concerned that the controversy could derail the transaction and damage burgeoning India-Israel relations, Netanyahu reportedly instructed Mossad to investigate the forces behind the report.
According to the report, Mossad deployed two of its elite divisions—Tzomet (human intelligence) and Keshet (cyber operations)—to trace the origins of what it believed was a globally coordinated campaign against Adani. Their investigation spanned multiple nations, including the United States, UK, Australia, and countries across Europe. Individuals allegedly involved ranged from hedge fund operatives and investigative journalists to political activists and figures supposedly tied to the Biden administration and financier George Soros.
Among the more startling allegations was Mossad’s surveillance of senior Indian opposition leaders. Notably, Sam Pitroda—chairman of the Indian Overseas Congress—was reportedly targeted, with claims that his home servers in Illinois were hacked in search of links to the Hindenburg report. The operation allegedly uncovered encrypted communications that hinted at potential coordination between opposition politicians and Hindenburg associates.
Congress leader Rahul Gandhi was also reportedly monitored. Mossad is said to have tracked his movements, including an alleged meeting in May 2023 in Palo Alto, California, with individuals connected to the Hindenburg network. In internal communications, Mossad reportedly referred to Gandhi using the codename “Bitter Dynast.”
By early 2024, Mossad had compiled what was internally dubbed the Zeppelin Dossier—a 353-page intelligence report identifying a complex web of entities, including USAID, OCCRP (Organized Crime and Corruption Reporting Project), and certain Western media groups, as being part of a coordinated campaign against Adani. While most international media outlets reportedly declined to publish the findings, French outlet Mediapart went ahead with the story.
Tensions escalated later in 2024 when U.S. authorities, including the DOJ and SEC, initiated investigations into Adani Group. However, these efforts reportedly fell apart under scrutiny, culminating in the resignation of U.S. Attorney Breon Peace. Around the same time, Adani’s legal team—led by Quinn Emanuel—issued a legal warning to Hindenburg Research.
In a dramatic turn of events, Hindenburg founder Nathan Anderson reportedly agreed to dissolve the firm in exchange for legal immunity in January 2025. This alleged agreement was said to be nullified following the return of Donald Trump to the U.S. presidency on 20 January 2025.
Throughout this time, Mossad is believed to have maintained close surveillance on Indian opposition figures, convinced that the smear campaign against Adani was driven by wider geopolitical motives—particularly an effort to undermine the growing India-Israel partnership.
Timeline of Key Events in Operation Zeppelin
- 14 July 2022: Adani Group emerges as the lowest bidder to operate Israel’s Haifa Port for 30 years, offering $1.18 billion.
- 11 January 2023: Adani finalizes the Haifa Port deal, required to pay the full amount of $1.18 billion within a month.
- 24 January 2023: Hindenburg Research releases a scathing report accusing Adani Group of fraud, wiping out around $150 billion in market value and triggering a massive stock market crash in India.
- 31 January 2023: Adani meets Netanyahu to reaffirm the Haifa deal despite the report. Netanyahu grows suspicious and asks Mossad to investigate.
- 22 February 2023: Adani completes the full payment for the port, while Mossad begins surveillance on Hindenburg and its founder, Nathan Anderson.
- 31 May 2023: Mossad allegedly uncovers a secret meeting between Rahul Gandhi and Hindenburg-linked figures in Palo Alto, California.
- September 2023: Mossad agents infiltrate the Indian Overseas Congress premises in Illinois and decrypt emails suggesting a larger anti-Adani campaign. They find references to future attacks coordinated globally.
- 31 August 2023: OCCRP publishes a new report alleging Adani’s use of opaque financial structures.
- January 2024: Gautam Adani is briefed on the findings of Operation Zeppelin in Switzerland and receives the full dossier outlining international coordination against his business empire.
- November 2024: Mossad leaks details of the operation to major outlets; only Mediapart publishes the story.
- December 2024: The Biden administration reportedly ramps up legal actions against Adani, but cases falter. Adani’s legal team sends a formal notice to Hindenburg.
- January 2025: U.S. Attorney Breon Peace resigns. Hindenburg founder Nathan Anderson reportedly agrees to shut down the firm in exchange for immunity, which is later revoked after Trump’s return to office.
While the full details of Operation Zeppelin remain classified, the emerging narrative paints a picture of high-stakes espionage, international politics, and corporate warfare, with Mossad playing a central role in shielding strategic Indo-Israeli interests from what it viewed as a hostile global agenda.
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